Recent Directions in the Regulation of Insurance Claims Handling in the United Kingdom and Australia: A Model for Other Jurisdictions to Consider?

Bowley, R

Recent Directions in the Regulation of Insurance Claims Handling in the United Kingdom and Australia: A Model for Other Jurisdictions to Consider?

Bowley, R

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Publisher:: Springer
Publication Type:: Chapter
Citation:: The Governance of Insurance Undertakings: Corporate Law and Insurance Regulation, 2022, pp. 263-295
Issue Date:: 2022-03-01

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Field	Value	Language
dc.contributor.author	Bowley, R https://orcid.org/0000-0002-6626-3714
dc.contributor.editor	Marano, P
dc.contributor.editor	Noussia, K
dc.date.accessioned	2022-03-18T08:54:23Z
dc.date.available	2022-03-18T08:54:23Z
dc.date.issued	2022-03-01
dc.identifier.citation	The Governance of Insurance Undertakings: Corporate Law and Insurance Regulation, 2022, pp. 263-295
dc.identifier.isbn	978-3-030-85817-9
dc.identifier.uri	http://hdl.handle.net/10453/155358
dc.description.abstract	This chapter examines recent developments in the regulation of insurance claims handling in the United Kingdom and in Australia. It commences by reviewing the relevant Insurance Core Principles developed by the International Association of Insurance Supervisors which articulate the standards that national supervisors should implement to effectively regulate the handling of claims and the resolution of disputes with policyholders. From this basis, it then examines the various rules developed by the Financial Conduct Authority to regulate claims handling in the United Kingdom, and through the use of case studies discusses how compliance with these rules has been monitored and enforced. The chapter then examines the legal framework for regulating insurance claims handling in Australia, which has been significantly expanded following the implementation of the reforms recommended by the 2019 Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The chapter concludes that the approaches adopted in these two jurisdictions could provide a model for similar jurisdictions considering similar regulatory challenges
dc.format.extent	14
dc.language	en
dc.publisher	Springer
dc.relation.ispartof	The Governance of Insurance Undertakings: Corporate Law and Insurance Regulation
dc.relation.ispartofseries	AIDA Europe Research Series on Insurance Law and Regulation
dc.relation.isbasedon	10.1007/978-3-030-85817-9_12
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	Recent Directions in the Regulation of Insurance Claims Handling in the United Kingdom and Australia: A Model for Other Jurisdictions to Consider?
dc.type	Chapter
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	closed_access	*
pubs.consider-herdc	true
dc.date.updated	2022-03-18T08:54:21Z
pubs.publication-status	Published

Abstract:

This chapter examines recent developments in the regulation of insurance claims handling in the United Kingdom and in Australia. It commences by reviewing the relevant Insurance Core Principles developed by the International Association of Insurance Supervisors which articulate the standards that national supervisors should implement to effectively regulate the handling of claims and the resolution of disputes with policyholders. From this basis, it then examines the various rules developed by the Financial Conduct Authority to regulate claims handling in the United Kingdom, and through the use of case studies discusses how compliance with these rules has been monitored and enforced. The chapter then examines the legal framework for regulating insurance claims handling in Australia, which has been significantly expanded following the implementation of the reforms recommended by the 2019 Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The chapter concludes that the approaches adopted in these two jurisdictions could provide a model for similar jurisdictions considering similar regulatory challenges

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/155358